CEGAT Mumbai Appellate Tribunal waives Rs. 12.70 lakhs, orders Rs. 1.5 lakhs payment, conflicting decisions on invoices The Appellate Tribunal CEGAT, Mumbai ordered the applicant to secure revenue of Rs. 1.5 lakhs within six weeks, with a waiver granted for the remaining ...
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The Appellate Tribunal CEGAT, Mumbai ordered the applicant to secure revenue of Rs. 1.5 lakhs within six weeks, with a waiver granted for the remaining amount of Rs. 12.70 lakhs, in an application for waiver of a deposit amount of Rs. 14.20 lakhs involving conflicting decisions on credit for endorsed invoices. Compliance was mandated by 30-3-1998.
The Appellate Tribunal CEGAT, Mumbai heard an application for waiver of a deposit amount of Rs. 14.20 lakhs. The applicant took credit on an invoice endorsed by M/s. Ayub Silk Factory. There were conflicting decisions on whether credit could be taken on endorsed invoices. The Tribunal ordered the applicant to secure revenue to the extent of Rs. 1.5 lakhs within six weeks, allowing a waiver for the remaining amount. Compliance was required by 30-3-1998.
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